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Freight investment coalition applauds Rep. Delaney’s innovative financing proposal
The Coalition for America’s Gateways and Trade Corridors (CAGTC) commends Rep. John Delaney (D-MD/6) for developing an innovative financing proposal that would capitalize a U.S. infrastructure fund with repatriated offshore profits, earned by U.S. companies mostly in foreign markets and held in overseas banks. Introduced on May 22 with a bipartisan group of 26 cosponsors, “Partnership to Build America Act” (H.R. 2084) provides American businesses with the opportunity to help improve our nation’s infrastructure while bringing home earnings under advantaged tax terms – money otherwise unlikely to enter the US due to high tax rates. “As a national organization focused on advancing policies and funding options that support efficient freight movement, CAGTC recognizes the infrastructure loans and loan guarantees created by the Partnership to Build America Act as an important piece of the total financing package needed to build freight infrastructure projects,” said Leslie Blakey, Executive Director of CAGTC. “When paired with freight-focused grant programs, such as Projects of National and Regional Significance and TIGER, financing available through the Partnership to Build America Act could be a useful tool needed to complete funding packages for valuable freight infrastructure projects.”A commitment to investment in goods movement and dedicated funding for a freight program is critical for America to ensure a safe, efficient, reliable, multimodal supply chain that will continue to stoke the engine of commerce and support job growth. CAGTC has long called for a comprehensive goods movement policy with funding commensurate to our nation’s vast system needs.
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